3/9-11 Wellington Street, Paynesville VIC 3880
3/9-11 Wellington Street, Paynesville VIC 3880
renovated townhouse | central Paynesville walkable | low-maintenance | no overlays detected
The buying case for this property rests on its combination of a recent renovation, central location, and absence of bushfire or flood overlays—a rare trifecta in coastal Victoria. The open-plan layout with Miele appliances and engineered timber flooring signals a standard that typically commands a premium, while the private courtyard and remote garage offer genuine convenience. This townhouse is best suited to owner-occupiers seeking a lock-and-leave lifestyle or investors targeting the downsizer and holiday-home demographic, given its walkability to the waterfront and shopping precinct.
The primary risk is the ambiguity around the bathroom count and body corporate terms, which must be clarified before proceeding. The 2023 sale history provides a recent price benchmark, but the exact figure is undisclosed, making value comparison less precise. The opportunity lies in the property’s positioning—renovated stock in Paynesville’s core is limited, and its rental estimate of around $500 per week suggests a moderate yield that could improve with local demand.
Detailed Independent Property Report prepared by PropCred Analyst team for 3/9-11 Wellington Street, Paynesville VIC 3880
Checks found:
Value Risk
Liquidity Risk
2
Planning Risk
1
Income Risk
1
Execution Risk
URL has been copied successfully!
Market Insight
Paynesville presents as a relatively affordable coastal market, with demand primarily driven by families seeking waterfront and lifestyle properties. Recent house price growth has been positive, contrasting with a softer unit segment, indicating a bifurcated market. Steady sales activity and solid rental yields underpin the established housing sector. Future growth is linked to its enduring lifestyle appeal, though the market faces constraints from an oversupply in the unit sector and sensitivity to broader economic conditions.
URL has been copied successfully!
PropCred Estimated Value
Bedrooms
3
Bathroom
2
Parking
1
Land
177m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
URL has been copied successfully!